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basic math
13. Steve's bank pays an annual intrest rate of 2.8% on savings account. The intrest is compounded monthly. If Steve deposits $1000 in a savings account, how much intrest will he earn in three months?
$1000*.028= $28.00
$1028*.028= $28.78
$1056.784*.028= $29.59
total= $86.37
$1000*.028= $28.00
$1028*.028= $28.78
$1056.784*.028= $29.59
total= $86.37
Recalling key concepts ch21
2 you agree to keep your depsoited for a specific length of time in a
A CD
3. only self-employed workers can open a
C keogh plan
4. when you compare a checking account statement with your check register to make sure they agree, you- are your checking account.
a reconciling
5. The mount common type of credit vehicle is a
c credit card
6. Credit can be costly because of
b high interest rates
A CD
3. only self-employed workers can open a
C keogh plan
4. when you compare a checking account statement with your check register to make sure they agree, you- are your checking account.
a reconciling
5. The mount common type of credit vehicle is a
c credit card
6. Credit can be costly because of
b high interest rates
chapter 21 vocabluary
dividend:share or the fund's profits
CD: type of investment in which a person deposits a specific amount of money for a fixed amount of time at a stated interest rate.
401(k)plan: specific amount of your salary into a plan.
IRA: personal retirement account into which you can put a limited amount of money yearly.
Keogh plan: investing up to 25% of your yearly earnings for retirement.
SEP: simpler tax-deferred retirement plan that offers tax savings.
Endorse: sign of name on the back of pay check
Check register: small booklet for tracking your account.
EFT: the transfer of money from one bank account to another by electric means.
Online "Banking: a way to manage your money by electronic means.
Credit: sum of money a person can use before havong to reimburse the credit lender.
application fee: amount of money charged to apply for the loan>
Down payment: sum apid at the time of purchase.
finance charge: fee based on the amount of money you owe.
APR: yearly coast of the loan expressed as a percentage.
Credit bureau: is an agency that collects information on how promptly people and business pay their bills.
CD: type of investment in which a person deposits a specific amount of money for a fixed amount of time at a stated interest rate.
401(k)plan: specific amount of your salary into a plan.
IRA: personal retirement account into which you can put a limited amount of money yearly.
Keogh plan: investing up to 25% of your yearly earnings for retirement.
SEP: simpler tax-deferred retirement plan that offers tax savings.
Endorse: sign of name on the back of pay check
Check register: small booklet for tracking your account.
EFT: the transfer of money from one bank account to another by electric means.
Online "Banking: a way to manage your money by electronic means.
Credit: sum of money a person can use before havong to reimburse the credit lender.
application fee: amount of money charged to apply for the loan>
Down payment: sum apid at the time of purchase.
finance charge: fee based on the amount of money you owe.
APR: yearly coast of the loan expressed as a percentage.
Credit bureau: is an agency that collects information on how promptly people and business pay their bills.
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